Position and Proximity Sensors Market Forecast a Steady Growth at 4.6% CAGR, Projected to Hit USD 3.0 billion by 2031 | Transparency Market Research, Inc.
The expansion of the automotive industry, as well as the increased incorporation of ambient light sensors, are driving the position and proximity sensors market.
Wilmington, Delaware, United States, Jan. 29, 2024 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. - *The global position and proximity sensors market was projected *to attain US$ 2.7 billion* in 2022. It is anticipated to garner a 4.6% CAGR from 2022 to 2031. By 2031, the market is *likely to attain US$ 3 billion* by 2031.
Position and proximity sensors are electrical devices equipped with sensors that can detect the location and presence of things remotely. These sensors are widely used in robotics, automation, and industrial control. They are intended to detect the location or displacement of an item around a reference point.
Linear motion sensors monitor linear or angular displacement and produce information about the object's direction and speed. These sensors can also detect the existence of things at a distance utilizing techniques such as infrared, ultrasonic, capacitive, and magnetic fields.
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Sensors commonly employ automated systems to detect items, track movement, or activate alarms or security systems. Position and proximity sensors provide accurate and reliable information about the position and presence of items.
*Global Position and Proximity Sensors Market: Key Players *
Prominent companies are concentrating on many critical business approaches, including collaborations, mergers and acquisitions, new product developments, and joint ventures, in order to expand their holdings and get a larger market share for proximity sensors in various areas. The following companies are well-known participants in the global position and proximity sensors market:
· AMS AG
· Allegro Microsystems LLC
· Honeywell International Inc.
· Infineon Technologies AG
· MTS Systems Corporation
· Panasonic Corporation
· Qualcomm Technologies Inc.
· Renishaw PLC
· STMicroelectronics N.V.
· TE Connectivity Ltd.
· Vishay Intertechnology Inc.
*Key Findings of the Market Report*
· Position and proximity sensors may detect objects or signals without making physical contact with the thing being detected. Displacement position and proximity sensors come in a variety of forms and sizes, depending on their use.
· Consumer preferences for driverless vehicles are gradually shifting as understanding of monitoring and safety measures increases.
· Position and proximity sensors are widely used in automotive components like front assist, uncommon view assist, and side assist monitoring systems.
*Market Trends for Position and Proximity Sensors*
· Ambient Light Sensors (ALSs) and proximity sensors are electronic devices used in a variety of applications to identify and quantify the quantity of ambient light in a given area, as well as to detect the presence or absence of adjacent objects or people.
· The usage of ambient light and proximity sensors has several benefits, including improved user experience, higher energy economy, and more convenience. These sensors allow customers to alter the illumination intensity of gadgets without making physical touch, resulting in improved visibility and lower power usage.
· Various manufacturers are delivering innovative goods to increase their market position and revenue from proximity sensors. STMicroelectronics, a worldwide semiconductor pioneer serving clients in a wide range of electronics applications, provides a revolutionary full-color ALS. This sensor allows cellphones to capture better images.
*Global Market for Position and Proximity Sensors: Regional Outlook*
· *Asia Pacific had the greatest market share in 2022*. The presence of major companies fuels the regional market dynamics. Companies in the position and proximity sensors business are creating products with features like GPS, cameras, and displays for use in smartphones and smart home devices to detect motion and location.
· *Smartphone manufacturers in Asia Pacific are introducing* new devices, pushing the position and proximity sensors market data. Elliptic Labs released INNER BEAUTY, an AI Virtual Proximity Sensor, in September 2020. This is a key feature of the Xiaomi Redmi K30 smartphone models, which are the first in the Redmi series to include Elliptic Labs technology. INNER BEAUTY is a game-changing AI Virtual Proximity Sensor that allows OEMs to create phones with a clean, full-screen design.
*Customize this report according to your needs@ **https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=40244**Key developments by the players in this market are:*
· In 2022, STMicroelectronics introduced the VL53L3CX, a ToF range sensor with multi-target detection. The VL53L3CX has a high-performance proximity and range sensor, multi-target distance measurements, and automated smudge correction. The small reflowable package has a Single Photon Avalanche Diode (SPAD) array and physical infrared filters to achieve the best-ranging performance in a variety of ambient illumination situations, with a wide range of cover glass windows.
· In November 2020, Rockwell Automation purchased Fiix Inc., a cloud software firm that provides cutting-edge maintenance solutions. With the inclusion of the Fiix platform and expertise, clients can expect to benefit from a 360-degree view of integrated data across automation, production, and maintenance, allowing them to monitor and enhance asset performance and optimize maintenance labor.
*Global Position and Proximity Sensors Market Segmentation*
*Product Type*
· Linear Voltage Differential Transformers
· Magnetostrictive Linear Position Sensors
· Capacitive Linear Position Sensors
· Eddy Current Linear Position Sensors
· Fiber-optic Linear Position Sensors
· Ultrasonic Linear Position and Proximity Sensors
· Magnetic Proximity Sensors
· Capacitive Proximity Sensors
· Others
*Contact Type*
· Contact Sensors
· Non-contact Sensors
*Application*
· Machine Tools
· Test Equipment
· Motion Systems
· Material Handling
· Robotics
· Others
*End-Use Vertical*
· Industrial
· Automotive
· Aerospace & Defense
· Healthcare
· Security
· Transport
· Consumer & Home Appliances
· IT Infrastructure
· Energy & Utility
· Others
*Region*
· North America
· Latin America
· Europe
· Asia Pacific
· Middle East & Africa
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*Have a Look at Related Research Reports of Electronics and Semiconductors Domain:*
*Photodiode Sensors Market** - *The global photodiode sensors market was estimated to be worth US$ 566.5 million in 2022, according to TMR. The market is expected to grow at a *CAGR of 7.1% by 2031*.
*Mobile Biometrics Market** - *According to a report by TMR, the mobile biometrics industry was valued at US$ 44.2 Bn in 2021 and is estimated to advance *at a CAGR of 20.1%* during the forecast period from 2022 to 2031.
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